NJ-based Thea Energy secures $20million in series A round funding. Leading the round was Prelude Ventures, with participation from Mercator Partners, Anglo American, Hitachi Ventures, Lowercarbon Capital, Orion Industrial Ventures, and Starlight Ventures among other investors.
Mark Cupta, managing director of Prelude Ventures, will join Thea Energy’s board of directors concurrent with the Series A investment closing. The money will go towards helping the company expand its personnel, expedite the next stage of planar coil magnet array manufacture, and simulate the integrated stellarator system.
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Thea Energy, founded in 2022 and headed by CEO Brian Berzin, develops a strategy for commercialising fusion energy by utilising recent advances in stellarator physics and engineering.
By employing computer-controlled arrays of planar coils, it is able to operate on stellarators without the need for the intricate modular magnets needed in all previous stellarator structures that have been presented.
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The Princeton Plasma Physics Laboratory, where the stellarator was first conceived in 1951, and Princeton University provided the foundation for Thea Energy’s technological development and research.
About Thea Energy
Thea Energy, formerly Princeton Stellarators, was established in 2022 with the goal of utilising the most latest developments in stellarator engineering and physics to develop a quicker, more straightforward method of fusion energy commercialization.
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Thea Energy is reimagining the stellarator by substituting complex, elaborate modular magnets needed in all other proposed stellarator systems with computer-controlled arrays of planar coils.
